Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

What kinds of questions I can and can't answer?

My area of expertise

My experience in the area (years):

Organizations I belong to:

Publications or writing which has appeared :

Educational credentials:

Award & Honors:

CA Sony.C says : VAT on free issue of materials to contractor
Sir, please advise me on the treatment of VAT in the case of issue of materials which is deducted from the total contract value . our employer will supply cement and steel @ presecribed rates and will deduct from the contract value. Is this a free issue or a transfer? whether KVAT applicable to such transaction ?

Partho Basu says : How to effectively offset LTCG
Dear Sir, Request your help in regard to LTCG arising from the sale of unlisted securities, held from 2007. 54 EC route is an unexciting no brainer and herein 50 lacs is all I can file for tax saving, however if the taxable amount is higher what are your recommendations? Can I take the Dividend / Bonus Stripping route to offset this gains with LTCL or has that been cancelled under SEBI's current regulations ?? Await your revert... Thanks and regards Partha

Puneet Anand says : Signing of Balance Sheet
Hi, One of my client has increased its paid up capital to Rs. 13 crores but it has not yet appointed any company secretary. As per Section 215 of the Companies Act, financial needs to be signed by atleast two directors and a company secretary. How to resolve this issue. Do we need give any disclosure for this in auditors report or notes to accounts. How can they now comply with signing requirement

DILIP MEHARIA says : FORM 16A
Dear All, Now from F.Y. 2011-12 onwards online TDS certificate in Form 16/16A is mendatory to issue through NSDL site. Suppose we are deducted 20% TDS who are not given PAN at higher rate but in this situation NSDL site not generating TDS certificate without PAN. Deductee require TDS certificate because his income is exempt under Agriculture Income and he wants refund his TDS amount. How he can claim his refund without certificate if he is having PAN at the time of filling IT return. Thanks, Dilip 933398101

Gajjala Satheesh says : TDS Penalty for May 2011
Sir, I have not paid TDS for Rent, Salary & Consultancy for May 2011. IF I pay on 07.07.2011. Then the Interest will be 1.5% for a month. For May 2011, is it (May)1.5%+ (June)1.5%=3% on the TDS amount taken. But for June 2011 TDS last date is 07.7.11. So, If I pay for May 2011 Interest 1.5% is it correct. And June month TDS If I pay on or before 07.7.11. Is there no need to pay Interest Am I correct. Previously I paid TDS for March 2011(F.Y. 2010-11)in the deductor code instead of 200 Tax Payer they have given a printout of 400 code for IT Depot.They are saying " You have paid for the last F.Y. so we have taken into 400 code. Is this correct. Plz Advise me.